How much is acceptable credit

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  • Tristan73's Avatar
    Level 2
    HI Can I ask how much is acceptable credit build up for winter, im already over £200 in credit from April, historically my usage is pretty static and now like most actually reducing due to the price hikes,I know its being hiked again in October but with the £400 credit being add how much is enough and acceptable to Eon next?
    ​​​​​​​Many thanks
  • 8 Replies

  • Best Answer

    Andy65's Avatar
    Level 33
    Best Answer
    Hi @Tristan73

    If your usage is as you say, fairly static, work out your annual cost based upon your current tariff and see if your DD is sufficient and/or is your surplus sufficient/too much or not enough.

    My opinion is that if you're on the standard variable tariff and you are £200 in credit, I would leave the credit where it is because of the increase expected in October. The other problem is that our winters can vary somewhat so a mild or severe winter can make a significant difference.
    ​​​​​​​If you can afford to leave your current surplus where it is, I would.
  • Tristan73's Avatar
    Level 2
    Thank you Andy65 yes im currently on the standard tariff I have no problem leaving money in place for winter just trying to find out how much they wish as its just over £200 pound now by July 1st its going to be almost £300 after the next months bill has come out and so on, hike or not in October im going to be in a lot of credit come next April, I did managed to lower the DD by 10% in May it wont let me lower it anymore than that, Like most im now actively watching how much I use not using the tumble dryer and stuff like that so using much less that the year before, my heating/water is gas combi and that is still cheap even in previous years my gas bill are quite low blessings of a well insulated house. I just don't understand why this year I have to be so heavily in credit when I never had to before.
    ​​​​​​​Many thanks
  • Andy65's Avatar
    Level 33
    Thank you Andy65 yes im currently on the standard tariff I have no problem leaving money in place for winter just trying to find out how much they wish as its just over £200 pound now by July 1st its going to be almost £300 after the next months bill has come out and so on, hike or not in October im going to be in a lot of credit come next April, I did managed to lower the DD by 10% in May it wont let me lower it anymore than that, Like most im now actively watching how much I use not using the tumble dryer and stuff like that so using much less that the year before, my heating/water is gas combi and that is still cheap even in previous years my gas bill are quite low blessings of a well insulated house. I just don't understand why this year I have to be so heavily in credit when I never had to before.
    ​​​​​​​Many thanks

    I think last winter was milder than average so that may explain why you've built up a bit more of a surplus. Unless you keep good records of your monthly/annual usage it can be difficult sometimes to see where unusual deficits/surpluses come from. If we've had a harsh winter the annual review will usually hike up monthly payments to cover it and may well use that usage as a forecast for the following year. If then the next winter is milder then a surplus can easily build up.
  • meldrewreborn's Avatar
    Level 53
    @Tristan73
    ​​​​​​​
    You haven't said what you monthly DD is, so we've no idea of how many months credit 2/300 £'s is. But given the £400 credit due in October for all customers, I would politely ask for the current surplus back. I don't think that the £400 credit can be withdrawn later - it has to be used for paying down energy bills. So it may be more difficult to withdraw later on.

    And the money is better off with you than them.
    Current Eon Next and EDF customer, ex Zog and Symbio. Don't think dual fuel saves money and don't like smart meters. Chronologically Gifted
  • Tristan73's Avatar
    Level 2
    Thank you both Think im going to have to spend three hours sitting on the phone sorry im not explaining myself very well with email, the credit has built up since April I think the whole government add on has caused the issue.
    Since April bills are now around £90 a month (give or take change)
    DD is now £132 a month so around £40 a month build up a month for winter I added the £150 rebate I was given for energy in April putting me in £234 in credit.
    With the £40ish pound a month being added to my existing credit and the £400 if nothing changed I would have about a £1000 come next April in credit even with the rise in October a little extra lighting and heating im not going to be using nowhere near that as my current usage is now dropping due to me being a bit more mindful im also in the south west far as you can go, so never gets that cold down here why bills are pretty static if the heating is on you don't need the tumble dryer.
    House sits around 17c ambient temperature Im an outdoor worker so heating isn't a big concern I would like to drop my DD to £100 I think that would be fair on both sides
    ​​​​​​​Many thanks
    Last edited by Tristan73; 18-06-22 at 05:49.
  • Andy65's Avatar
    Level 33
    I understand what you're saying @Tristan73. To be honest I think that you've clouded the issue slightly by paying the £150 into your energy account.
    If for example you hadn't have done that, you would be £84 in credit so I would say that your £132 DD is about right based upon your current summer bills, you'd have a reasonable credit build up to cover the winter months.

    I don't think it's been fully decided or at least announced, what the suppliers are planning to do when the £400 is added in October. I think they'll wait until the price cap is revised and I would hope that then, with the £400 being applied, that they would then do an annual review on all customer accounts.
    However, I think that's wishful thinking on my part and that as it would be October/November, they'll do nothing and just do an annual review next year as normal.
  • Tristan73's Avatar
    Level 2
    Yep I screwed up Andy65 I didn't think the government would put their hand in their pocket twice and I guess they didn't think people would actually use the rebate as intended, I will hang on till the rise in October see how that adjusts my bills then have a chat with someone,im far from rolling in the dough but by the grace of someone go I.
    Cheers and gone
  • ggabu500's Avatar
    Level 0
    You all seem to be missing one important point. The £400 is not going to be given in one single lump. It will be spread over 6 months, with the first payment being £70, followed by 5 payments of £66.